Gold Price Analysis February 2021 | Gold Price to Follow Silver?

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Here is our Gold price analysis for February 2021! Despite earlier more optimistic projections surrounding the gold price, the yellow metal has been mostly trading sideways this year. And this week even saw fresh selling in the gold chart. But here’s why the gold February 2021 outlook is actually more positive than it seems.

The gold price today is currently capped by the $1875-76 resistance zone. However, growing concerns around vaccine supplies around the world have put a limit on any further losses after the selling pressure seen this morning in the gold price chart.

And as for the future development of the gold price, February will largely be shaped by the risk sentiment of the broader market. As far as technical aspects go, however, if we see a break above the current resistance level, we can expect a rebound in the gold price analysis up to the psychologically significant $1900 mark.

And in that case, given strong enough upwards momentum, the gold analysis may even see gains up to the $1922-24 zone on the way up to the next major resistance near $1960. On the flipside, while we do see strong support near $1845 provided by the upwards sloping trend line, a break below it could lead to a plunge all the way down to $1830 and possibly even $1800 in the gold February chart.

Watch our full gold chart analysis and tell us below about what you think of our gold price prediction for the coming weeks. Our gold price analysis (February 2021) will show you the support and resistance levels you need to watch over the coming weeks and months.

What did you think about our gold price analysis February 2021? Let us know in the comments! And please don't forget to like and share our gold price forecast with your friends. For more trading content and our exclusive gold price technical analysis, be sure to subscribe to the channel!


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